Prudential Financial Inc. Buys 13,387 Shares of HDFC Bank Limited (NYSE:HDB)

Prudential Financial Inc. grew its position in HDFC Bank Limited (NYSE:HDB) by 33.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 53,658 shares of the bank’s stock after acquiring an additional 13,387 shares during the period. Prudential Financial Inc.’s holdings in HDFC Bank were worth $3,427,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of HDFC Bank by 172.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,380,979 shares of the bank’s stock valued at $215,909,000 after purchasing an additional 2,140,591 shares in the last quarter. Egerton Capital UK LLP bought a new position in HDFC Bank in the 4th quarter valued at approximately $72,833,000. DJE Kapital AG acquired a new stake in HDFC Bank during the 4th quarter worth approximately $54,055,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in HDFC Bank by 177.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075,131 shares of the bank’s stock worth $69,719,000 after acquiring an additional 687,811 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in HDFC Bank in the 4th quarter valued at approximately $39,495,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HDB shares. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Trading Down 1.8 %

NYSE:HDB opened at $65.24 on Wednesday. HDFC Bank Limited has a 52 week low of $54.99 and a 52 week high of $68.50. The firm’s fifty day moving average is $61.30 and its 200-day moving average is $62.72. The firm has a market cap of $165.19 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.